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Agenda - Council Work Session - 12/12/2017
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Agenda - Council Work Session - 12/12/2017
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3/17/2025 3:40:25 PM
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12/13/2017 9:00:03 AM
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Meetings
Meeting Document Type
Agenda
Meeting Type
Council Work Session
Document Date
12/12/2017
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for the full insurance value, provided that Landlord shall not be obligated to insure any furniture, <br />equipment, machinery, goods or supplies not covered by this Lease which Tenant may bring <br />upon the Leased Premises or any additional improvements which Tenant may construct or install <br />on the Leased Premises. <br />b. Tenant to Maintain. Tenant shall at all times during the term of this Lease, at its <br />expense, maintain a policy or policies of insurance with premiums paid in advance issued by an <br />insurance company licensed to do business in the State of Minnesota insuring the Leased <br />Premises against loss or damage by fire, expulsion or other insurable hazards and contingencies <br />for the full insurable value of Tenant's improvements to the Leased Premises and Tenant's <br />personal property. <br />c. Tenant Restriction. Tenant shall not carry any stock of goods or do anything in <br />or about the Leased Premises which will in any way impair or invalidate the obligation of the <br />insurer under any policy of insurance required by this Lease. <br />d. Waiver of Liability. Landlord hereby waives and releases all claims, liabilities <br />and causes of action against Tenant and its agents, servants and employees for loss or damage to, <br />or destruction of, the Leased Premises or any portion thereof, including the buildings and other <br />improvements situated thereon, resulting from fire, explosion and other perils included in <br />standard extended coverage insurance, whether caused by the negligence of any of said persons <br />or otherwise. Likewise, Tenant hereby waives and releases all claims, liabilities and causes of <br />action against Landlord and its agents, servants and employees for loss or damage to, or <br />destruction of, any of the improvements, fixtures, equipment, supplies, merchandise and other <br />property, whether that of Tenant or of others, upon or about the Leased Premises resulting from <br />fire, explosion or the other perils included in standard extended coverage insurance, whether <br />caused by the negligence of any of said persons or otherwise. The waiver shall remain in force <br />whether or not Tenant's insurer shall consent thereto. <br />e. Tenant Payment. In the event that the use of the Leased Premises by Tenant <br />increases the premium rate for insurance carried by Landlord, Tenant shall pay Landlord, upon <br />demand, the amount of such premium increase. If tenant installs any electrical equipment that <br />overloads the power lines to the building or its wiring, Tenant shall, at its own expense, make <br />whatever changes are necessary to comply with the requirements of the insurance underwriter, <br />insurance rating bureau and governmental authorities having jurisdiction. <br />17. PUBLIC LIABILITY INSURANCE: <br />Tenant shall during the term hereof keep in full force and effect at its expense a policy or policies <br />of public liability insurance with respect to the Leased Premises and the business of Tenant, on <br />terms with companies approved in writing by Landlord, in Landlord. Landlord shall be named <br />as additional insured under all policies. .Limits of liability shall not be less than a combined <br />policy Iimit of at least $2,000,000.00 applying to Bodily Injury, Leased Premises Damage and <br />Personal Injury. Such policy(ies) shall: (i) provide that such policies are primary and landlord's <br />policy(ies) are noncontributing; (ii) include a cross -liability endorsement, and (iii) require that at <br />least 30 days prior written notice must be given to Landlord prior to cancellation, expiration or <br />10 <br />
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